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PCB | February 25, 2009

Aspocomp post lower net sales in 2008, five largest customers accounted for 74% of net sales

The company's net sales amounted to €20.7 million (2007: €25.9 million; the EBITDA amounted to €2.2 million (-10.7). Operating profit reached €0.5 million (-12.3), which includes a non-recurring cost of €0.4 million from the sale of the Oulu property. Aspocomp's five largest customers accounted for 74% of its net sales (2007: 63%).
Aspocomp's financial position is satisfactory thanks to the structural arrangements that have been implemented. The Group's lean cost structure and the outlook for operations in Oulu enable the continuity of operations. Net sales in 2009 are expected to decline due to the solutions the Group has implemented to reduce risks. Operating profit before depreciation (EBITDA) is estimated to remain positive.

In addition to developing the continuing operations of the Group, the Board of Directors is looking into various structural development solutions, including carrying out company reorganization in the future.

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